The investment will be utilised to fund the growth and expansion of Strand towards becoming Asia’s leading integrated diagnostics company
Strand Life Sciences announced an investment by Quadria Capital, Asia’s healthcare focussed private equity investor. India-based HealthQuad Fund and Singapore-based Heritas Venture Fund also contributed to this fund.
This investment will be utilised to fund the growth and expansion of Strand towards becoming Asia’s leading integrated diagnostics company. Dr Ramesh Hariharan, CEO, Strand Life Sciences said, “Given their deep operating knowledge and experience of building healthcare businesses in Asia, the partnership with Quadria and HCG will help launch Strand into its next phase of growth and into an era where data analytics and molecular measurements together change diagnosis and treatment paradigms.”
Dr Amit Varma, Managing Partner and Co-Founder, Quadria Capital said, “The demand for specialised diagnostics has been rising rapidly across the region. With diagnostics moving beyond just identification of infections to becoming an integral part of management and therapy, we see a huge potential in this area. Quadria is excited to partner with Strand in this unique diagnostic platform that provides a potent combination of world class bio-informatics, genomics research, and integrated specialised diagnostics.”
Congratulating Strand Life Sciences on the agreement, industry veteran Kiran Mazumdar-Shaw, Chairman, Biocon said: “Strand’s partnership with Triesta is an inflection point which I am confident will drive its future into the fast growing segment of genomic led onco-diagnostics. This merger has attracted a significant investment from Quadria Capital which endorses the credibility of Strand’s evolving business strategy.”